Kolkata real estate market is growing because of many positive factors. Let us analyse the factors in brief:
Growing Realty Market of Kolkata
Given the population pressure and lack of the vacant lands in the central parts of Kolkata, prestigious housing projects are coming up in the city suburbs. Multinational organisations are investing in upcoming residential projects. In all, Kolkata real estate industry is growing but the region that is attracting the biggest growth is the eastern part.
Expanding Eastern Regions of Kolkata
The eastern part of the city is rapidly growing thanks to the state government’s decision to develop a green city in the area. Newtown and Rajarhat are growing as a smart and a green city, simultaneously. Given the thrust, buyers are investing in apartments in Rajarhat. The experts of real estate property in Kolkata are in the opinion that in near future (within 3 to 5 years), investors can expect a 5 to 15% rise in the capital valuation of a residential property.
Positive Response from the Government
West Bengal government has created the model of cross-subsidy to encourage more builders to invest into the residential projects in Kolkata. Such an initiative has been undertaken by the government to encourage the development of affordable housing projects.
Advent of Luxury Housing Projects in Kolkata
Given the positive thrust, even the number of luxury housing projects are growing. In fact, now, the top real estate builders in Kolkata are developing such housing projects that have all the features of being luxury apartments without being harsh on pockets. Take for example, the ‘Realtech Nirman’ built ‘Curiocity’ housing project in Rajarhat where the buyers can purchase luxury apartments at affordable prices.
The Game Changer PPP Model
The West Bengal government is following the PPP or Public-Private Partnership model to develop new real estate properties not only in Kolkata but also in rest of the smaller cities of West Bengal.
Green Certification for the Residential Projects
The government is awarding green certifications to the residential buildings that are using eco-friendly building materials and renewable energy resources like solar energy to fulfil the common electricity requirements of the building. The top real estate builders in Kolkata are playing important roles in order to help the government achieve this objective.
‘Realtech Nirman Pvt. Ltd.’ has ensured that landscaped gardens should remain an integral part of each of its housing project. Some housing enclaves also include swimming pools that help keep a cleaner environment.
At present, more projects are upcoming and the graph of sale is rising continuously. If somebody wants to invest into the Kolkata real estate then this is the right time. Do a smart selection of the property, wait for the prices to rise and sell them at the opportune moment.
